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Homebase hit by soggy summer

Home Retail, the parent company of Homebase have announced a 6.2% fall in second quarter sales owing largely to a poorer performance from the DIY chain over the summer.

Homebase hit by soggy summer

Homebase saw sales fall 8% to £391m in the period as the wettest summer on record took its toll on outdoor leisure products such as barbecues and outdoor furniture.

However, those in charge are not abandoning hope of a turnaround by the end of the year. Chief executive Terry Duddy said that, “for the first half overall, further progress on gross margins and continued cost control is expected to see profits at Homebase ahead of last year.”

However, this prediction was tempered by a reassertion that the company as a whole would remain cautious about the outlook. Mr Duddy added: “While we therefore expect a good first half profit result across the group, the uncertain consumer outlook means we must remain cautious at this stage in the financial year.”

About Fiona Russell-Horne

Fiona Russell-Horne
Group Managing Editor across the BMJ portfolio.

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